The majority of OT Industries has become part of MOL

From now,
engineering, construction and implementation of projects can now be handled by
Mol Nyrt's own corporation instead of foreign companies. This possibility
opened up with the acquisition of 51% of OT Industries (former Olajterv)
completed on the 31st of January, taking control of the company as well. The OT
group is a major player in the hydrocarbon industry in the region, both in engineering
and general contracting processes. The company's references involve most of the
investments in this field in Hungary, but also in other branches of industry
including some non-European clients. Additionally, OT is in possession of the
rubber recycling technology that has yet to be accepted by Hungarian
municipalities, although they have been said to have interest in it.

Mol could achieve dramatical
savings by utilizing the in-house services of OT, but OT's CEO has not yet been
able to give an estimate to business newspaper Világgazdaság as to what the
expected level of savings might be. As Racka Gabriel said, they are still being
assessed. The main benefits are related to participation in Mol's strategically
important investment projects. Thus, decisions have not yet been made regarding
organizational changes, changes in management, improvements or upgrades at the
OT. First of all, opportunities for business growth and options for cooperation
of the two companies in various areas as well as the necessary degree of
cooperation are being assessed. The focus is on establishing stability and
re-establishing growth of the company of OT.

The CEO focuses on Mol's new
15-year strategy announced in the autumn last year, the implementation of which
OT could play a role in. Mol is aiming to invest 4.5 billion dollars in
petrochemical industry alone in Tiszaújváros and Bratislava. Gabriel Racka has
denied that the new strategy of the majority owner would have a lower emphasis
on hydrocarbon production. He added that Mol has repeatedly indicated that the
company is able to keep its assets profitable even at the current oil prices
and will continue to play an important role in exploration and production in
the region. Accordingly, the company has managed to rectify the previous
several-year-long decline of production and in February it has won six more
concessions in Hungary. In the upcoming years, billions of HUF will be spent on
exploration and production in the country, and OT's expertise may be utilized
in these projects as well.B. H. L.